TLTP
\nGENEVA
\nOil and commodities trading house Gunvor has purchased an equity stake in Artemis Technologies, a Northern Ireland-based tech startup that aims to build a hydrofoil fast ferry using intellectual property developed in the World Cup racing competition.
\nArtemis\u2019 vision is to build a vessel with an \u201cautonomously controlled carbon fiber hydrofoil\u201d that contains an integrated propeller. Derived from Artemis\u2019 experience in World Cup racing development (the firm has its roots in the team Artemis Racing), the technology is intended to be \u201cthe first viable solution for the early adoption of high-speed zero-emissions maritime transport,\u201d according to the firm.
\nArtemis says that its system can cut the drag from a typical fast ferry or passive hydrofoil design by as much as 90 percent, opening up a new horizon for commercially-viable, electric high-speed transport.
\nExpanding on its hydrofoiling electric vessels, Artemis is also developing a 45-meter autonomous sailing catamaran. It will be \u201cthe world\u2019s first hydro-foiling and self-regenerating commercial vessel, capable of operating without the consumption of any fossil fuels,\u201d the firm said.
\nUsing a dual-function electric drive motor, it will generate electric power (and drag) to charge batteries when under way by sail, then use the stored power to motor ahead when winds are light. Its planned top speed is 50 knots, comparable to the speed of modern America\u2019s Cup catamarans on a beam reach.
\n\u201cArtemis Technologies is working on a number of compelling innovations that will help decarbonise the maritime sector at a time when there is growing demand for low-carbon alternatives,\u201d said Torbj\u00f6rn T\u00f6rnqvist, Chairman of Gunvor Group. \u201cGunvor has committed to reduce the carbon footprint of the commodities we\u2019re trading and our industrial processes, as well as to explore relevant commercial opportunities. There is no silver bullet to the climate change issue. Many solutions are needed.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
TLTP GENEVA Oil and commodities trading house Gunvor has purchased an equity stake in Artemis Technologies, a Northern Ireland-based tech startup that aims to build a hydrofoil fast ferry using intellectual property developed in the World Cup racing competition. Artemis\u2019 vision is to build a vessel with an \u201cautonomously controlled carbon fiber hydrofoil\u201d that contains […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-163129","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"\n